Family Christian, the biggest U.S. Christian bookstore chain, said on Thursday it was going out of business and planned to close its 240 stores across 36 states. The chain filed for Chapter 11 bankruptcy in February 2015, with more than $120 million in debt in the face of a sales slump amid growing competition from online…
J.C. Penney plans to close 130 to 140 stores and offer buyouts to 6,000 workers as the department store industry sags in competition with online sellers and nimble niche retailers. The company said Friday that it would shutter 13 percent to 14 percent of its locations and introduce new goods and services aimed at the shifting…
Kohl's and rival Macy's are carving out prime space within their sprawling stores and leasing them to other retailers as a means to generate revenue. Kohl's said on Thursday it would operate 500 of its nearly 1,150 stores with much lower square footage and would look to lease out the remaining space to other retailers. Macy's is…
Off-price retailer TJX has been stealing apparel sales from department stores for several years. Now, it has another category in its crosshairs: home decor. The parent company of T.J. Maxx and Marshalls told investors on Wednesday that it will open a new line of home goods stores this year. The concept will be complementary to its…
A company that began as an online-only retailer now has an impressive direct mail presence.
In a polarized country with consumers divided over President Donald Trump, Macy’s may have to give up its nonpartisan identity to survive. Ad Age reports that Macy’s has long been the “quintessential midpriced department store,” appealing to both red and blue state shoppers. Macy’s removed Donald Trump-branded merchandise in 2015 after the then-nominee made comments…
Lessons learned during the 2016 end-of-year shopping season are already finding applications in the retail space as store, sales and customer experience models continue to evolve. Retailers are focused on developing new approaches to better target consumers via mobile, online and in-store sales to not only remain relevant, but innovative in the retail marketplace. The…
Boscov’s CEO and Vice Chairman Jim Boscov said in a statement to the press that his uncle, Albert Boscov, died Friday of cancer at his home in Reading, Pennsylvania. Boscov’s was founded in Reading in 1914 by Albert's father, Solomon Boscov. Often described as a gentle giant, Albert acted as "a mentor to everyone," and…
